PROCEEDING
The 14th UBAYA International Annual Symposium on Management
A BIG PUSH TO A WORLD-CLASS
TOURISM: STRATEGIC ANALYSIS
& OPPORTUNITIES
Tanjung Pinang, Riau Islands, Indonesia 3rd-4th March 2017
Department on Management Faculty of Business and Economics, Universitas Surabaya,
14th UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
ii ISBN: 978-602-73852-1-4
Proceeding
The 14th UBAYA International Annual Symposium on Management
A BIG PUSH TO A WORLD-CLASS TOURISM: STRATEGIC ANALYSIS & OPPORTUNITIES
Candra S. Chayadi, Ph.D. (School of Business, Eastern Illinois University) Dudi Anandya, Dr (Universitas Surabaya)
Joniarto Parung, Ph.D, Prof. (Universitas Surabaya) Ning Gao, Ph.D. (Manchester Business School)
Wahyu Soedarmono, Ph.D. (Research Analyst, The World Bank, Jakarta) Yuanto Kusnadi, Ph.D. (City of Hongkong University)
Published by:
Department Of Management, Faculty Of Business & Economics Universitas Surabaya
FOREWORD
We are delighted to welcome you to 14th International Symposium on Management (INSYMA) Tanjung Pinang, Riau, Indonesia. The high quality of the papers and the discussion represent the thinking and experience of researchers, academics and practitioners in the particular fields. Their contributions helped to make the conference as outstanding as it has been. This proceeding is a compilation of papers submitted for the 14th International Symposium on Management (INSYMA) conducted by the Department of Management, the Faculty of Business and Economics, University of Surabaya (UBAYA) themed “A BIG PUSH TO WORLD-CLASS TOURISM: STRATEGIC
ANALYSIS AND OPPORTUNITIES”. The conference
organizers have put together both the latest research and provide an opportunity to make friendship and new acquaintances.
The 14th INSYMA is a means for participants consisting of researchers, academics and practitioners to have a discussion forum. The event is expected to enable participants in sharing initiatives, ideas and efforts from the results of research and discussion concerning how to create a Big Push in a strategy to deal with all the challenges and find opportunities in the tourism industry of each country to be a world-class tourism.
14th UBAYA INTERNATIONAL ANNUAL SYMPOSIUM ON MANAGEMENT
iv ISBN: 978-602-73852-1-4
sector can achieve the sustainability of: growth of economic,
prosperity and welfare to all countries.
Finally, we would like to thank the researchers for their willingness to share their research and ideas. Without their efforts, this proceeding would not possible. The committees and editors deserve special thanks for their outstanding effort in reviewing and preparing the event and manuscripts for publication. We hope that this compilation of papers can enrich our perspective in Tourism strategic analysis and opportunities.
Tanjung Pinang, March 3rd, 2017 Prita Ayu Kusumawardhany
ElsandraJuwana Deddy Marciano
Abstract - The aim of this study is to examine the effect of internationalization on firm
performance namely operating performance and financial performance. The dependent variables in this study are operating performance, which is divided ROA and ROS, and also financial performance, which is divided stock return and Tobin’s Q. Independent variables used are internationalization and R&D, as well as control variables such as industry return, leverage, fixed assets ratio, market to book value, and firm size. This study uses sample of 10 industrial manufacturing companies in Indonesia Stock Exchange 2010-2015 period.
The result shows that internationalization has a significant positive effect on ROA and ROS of the company, but no significant effect on stock return and Tobin’s Q. R&D has no significant effect on ROA, ROS, and stock return, but has a significant positive effect on Tobin’s Q.
Keywords: internationalization, R&D, ROA, ROS, stockreturn, Tobin’s Q
